Handelsbanken Fonder AB Purchases 20,000 Shares of Globe Life Inc. (NYSE:GL)

Handelsbanken Fonder AB raised its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 93.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,500 shares of the company's stock after buying an additional 20,000 shares during the period. Handelsbanken Fonder AB's holdings in Globe Life were worth $5,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA raised its holdings in shares of Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Globe Life by 4.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after purchasing an additional 87 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after buying an additional 100 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GL shares. Morgan Stanley upped their price target on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler decreased their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Stock Performance

Shares of Globe Life stock traded up $0.75 during midday trading on Monday, hitting $120.54. The company had a trading volume of 556,736 shares, compared to its average volume of 744,617. The business's 50 day simple moving average is $121.09 and its two-hundred day simple moving average is $119.43. The stock has a market cap of $9.95 billion, a PE ratio of 10.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $77.94 and a 1-year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.78 EPS. As a group, equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's payout ratio is 8.79%.

Globe Life Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.